The group said it "does not expect any justice, fair play or impartiality" from the country's electronic media regulator PEMRA.
The Defence Ministry has filed a complaint before PEMRA seeking cancellation of Geo News' license after it aired allegations that the ISI and its chief were behind the assassination attempt on its leading anchor Hamid Mir.
In an appeal posted on the Geo website, the group said PEMRA is full of political appointees who are open to influence from powerful people and institutions.
The media group said PEMRA "has never in its history decided against the government of the day". Already the Government has shown a bias against GEO without hearing its defence.
The Interior Minister has publically condemned GEO, saying the allegation aired the channel about Hamid Mir is a violation of rules and is anti-Pakistan.
The Defence Minister has also indicated his stance as the Defence Ministry has sent the ISI complaint to PEMRA, it said.
"The grave, written and public allegation of the ISI against Jang Group of 'having a history of furthering anti-Pakistan agenda' is tantamount to being called a traitor and has jeopardised the security of our staff and the very existence of Jang Group which has been serving the nation and its people from the beginning of Pakistan," the appeal said.
"We demand that ISI should submit evidence referred to in the complaint letter sent to Defence Ministry and forwarded to PEMRA on April 21, 2014, to the Judicial Commission which can hear our defence and decide if the allegation holds true or has been given in spite," it said.
"The Jang Group is willing to suffer any punishment, including shut down, if any of these allegations hold true. The truth will make us not break us," it said.
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